Lenox Wealth Management Inc. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 17.2% in the 3rd quarter, Holdings Channel reports. The firm owned 12,040 shares of the oil and gas producer’s stock after acquiring an additional 1,763 shares during the period. Lenox Wealth Management Inc.’s holdings in Occidental Petroleum were worth $544,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Occidental Petroleum by 39.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock worth $1,677,609,000 after purchasing an additional 9,386,180 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Occidental Petroleum by 24.6% during the second quarter. Macquarie Group Ltd. now owns 13,311,398 shares of the oil and gas producer’s stock worth $669,297,000 after purchasing an additional 2,630,424 shares in the last quarter. Morgan Stanley grew its holdings in shares of Occidental Petroleum by 0.4% during the second quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock worth $402,383,000 after purchasing an additional 28,283 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its holdings in shares of Occidental Petroleum by 86.7% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock worth $293,621,000 after purchasing an additional 2,712,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Occidental Petroleum by 12.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock worth $211,946,000 after buying an additional 466,208 shares during the last quarter. 85.41% of the stock is owned by institutional investors.
OXY stock traded up $1.07 during midday trading on Friday, hitting $40.10. The company had a trading volume of 13,536,442 shares, compared to its average volume of 8,366,604. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54. Occidental Petroleum Co. has a 52 week low of $38.30 and a 52 week high of $74.29. The stock’s 50 day moving average price is $42.48 and its 200 day moving average price is $48.31. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 3.47 and a beta of 0.85.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts predict that Occidental Petroleum Co. will post 2.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.79 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.16 annualized dividend and a yield of 7.88%. Occidental Petroleum’s payout ratio is currently 63.07%.
In related news, Director Margaret M. Foran acquired 1,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $43.15 per share, for a total transaction of $43,150.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cedric W. Burgher acquired 2,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $43.27 per share, with a total value of $108,175.00. Following the transaction, the chief financial officer now directly owns 79,342 shares of the company’s stock, valued at approximately $3,433,128.34. The disclosure for this purchase can be found here. Insiders acquired 23,500 shares of company stock valued at $1,039,775 in the last quarter. Corporate insiders own 0.15% of the company’s stock.
A number of analysts recently weighed in on OXY shares. Susquehanna Bancshares started coverage on Occidental Petroleum in a research report on Thursday, September 5th. They issued a “positive” rating and a $55.00 target price for the company. JPMorgan Chase & Co. started coverage on Occidental Petroleum in a research report on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 target price for the company. Morgan Stanley dropped their target price on Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. Bank of America set a $80.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Raymond James dropped their target price on Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $60.23.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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